About This Home
This 7-bedroom, 4-bathroom residential multi family at 323 5th St in Cheney, WA is listed for $410,000 ($136 per sqft). Built in 1895, the home offers 3,008 sqft of living space on a 0.17 acres lot.
Key Features
- Built in 1895
- 0.17 acre lot
- 2 stories
- 3 parking spaces
Property Details
This has the potential to pencil out attractively based on current rents & it's fully occupied! This PRIME income-producing property DIRECTLY across from Eastern Washington University in Cheney, WA! This rare triplex for sale near EWU sits on a corner lot just steps from campus - just across the grounds to Showalter Hall and 2 minutes to Downtown Cheney restaurants, bars, and shops.
Recent Updates include a new 2025 roof, exterior paint, new LVP flooring, and interior paint. This is one of the closest multifamily investment properties available near the school, making it ideal for a long-term investment, student housing, 1031 exchange, house hacking, and buyers seeking cash flow and long-term appreciation.
This registered historic triplex features separately metered units, campus views, mature trees, and off-street parking for each unit. Gross monthly rental income is $3,250/Mo (Unit 323: $1500, Unit 325: $900, Unit 321: $850/Mo)
Monthly Cost Estimate
$2,193/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
323 5th St
Cheney, WA 99004
Features & Amenities
Interior Features
Property Details
Flooring
Construction
Pool Features
Parking
Heating
Appliances
Questions & Answers
This 7-bedroom, 4-bathroom residential multi family at 323 5th St is listed at $410,000 ($136/sqft). The estimated monthly payment is $2,193 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1895, 0.17 acre lot, 2 stories, 3 parking spaces. Interior Features: Pantry, In-Law Floorplan.
This property is listed by Nick Briggs and can be reached at (509) 323-2323.